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Reporting from The Armory 2010

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March 11th, 2010 | 11:22 am

This past weekend, 60,000 visitors, and hundreds of collectors dropping between $24,000 and $300,000 dollars a pop, embraced the Art World turning a blind and blissfull eye away from the Great Recession.

Organizers of this year's Armory Show, upon the close of the week long spending and gwaking spree enthusiastically proclaimed, "robust sales, and record-breaking crowds!"

The Armory Show is one of the largest international art fairs and the 2nd largest in the U.S. This weekend Velvetpark's expert culture critics spent two days prowling the isles of Pier 94 to bring you the low down on the state of high art.

On Saturday Megan and I did one half the fair, and I returned with Prof C and D Cage the next day to argue about aesthetics... and sexual attraction.

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that pricing art too high would ruin an emerging artist, dealer's try to build slow and not inflate too quickly.

The art world is an industry, just as Hollywood is the entertainment industry made up of actors, producers, moguls, critics and audience. So you can't just say someone prices anything "realistically," because the price of art in the Art World is dependent on those involved; critics, collectors, dealers and artists. As far as the price, an artist can name any price they want, but it is what people are willing to pay for a work of art -- also the dealer usually marks up 50% for their cut.

Another thing about fine art, you are buying a one of a kind item (unless you are purchasing editions of prints or photos, which are generally cheaper than a one off.) it is a unique hand made object. Gucci bags, fancy shoes, cars are all high end luxury items, yet we don't seem to question the price tag, there are material costs, labor costs, marketing costs and the psychological value added of prestige... fine art is the same thing.

A Van Gogh can go for $4,000,000 - but who's to say that a useless painting is worth millions more than my practical car? Its what people are willing to pay.

I think if I had stole the paintbrush when Dad was decorating and put pretty swirls like that on the wall, Dad would not have appreciated my artistic efforts! If nothing else, putting it on canvas in a gallery with a six figure price tag makes people stop and say "Hey, that really is beautiful!". If I'm not careful, I tend to take light and colour for granted in the day to day. (A couple of blind friends and a camera remind me otherwise.)

Thanks for the video gallery tours, Grace. I'm very ignorant about "proper" art and art history, so I always seem to learn something new! You being so terribly enthusiastic makes me interested in the subject - my high school art teacher was a little burned out I think.